• Is Cell C sustainable?

    Is the mobile operator another African Bank in the making, asks Gugu Lourie.

  • Alliances that work

    Mutually adding value secures the employer-employee relationship, says Ian Mann.

  • Without prejudice

    We all need to fight the ugly bigotry that’s made news recently, says Mandi Smallhorne.

See More

NUM draws battle lines over CoAL move

Jun 07 2013 11:53 Sapa


Company Data


Last traded 0
Change 0,03
% Change 0
Cumulative volume 1215544
Market cap 543.79m

Last Updated: 27-01-2015 at 01:47. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

CoAL output hit by floods, derailment

CoAL boss not renewing contract

CoAL reports another loss

CoAL declares force majeure

CoAL restarts Vele ops in SA after floods

Coal of Africa to shut SA colliery


Johannesburg - The National Union of Mineworkers (NUM) rejects the proposal by Coal of Africa [JSE:CZA] to place Mooiplaats Colliery on care and maintenance, the union said on Friday.

"We reject the notion that the company's inability to improve productivity and establish profitable operations at Mooiplaats has been hampered by the global downturn in thermal coal prices as the company suggests," NUM national secretary for education Ecliff Tantsi said.

"The battle lines are drawn, the fight is going to be abrasive. It is just due to sheer incompetence, all these."

The union urged the mineral resources department to apply the principle of "use it or lose it" in relation to mining licences.

He appealed to the state to reject the notion of being held to ransom by mining companies whose intention was to keep mining licences while at the same time keeping operations that were not operational.

"The NUM remains of the view that such licences should be revoked and be put on public auction, so that those who wish to mine can come on board," said Tantsi.

Coal of Africa Limited announced on Monday that it proposed placing the Mooiplaats Colliery on care and maintenance, and would begin talks with unions and other parties to cut jobs.

"This decision has not been taken lightly, as CoAL recognises the importance of conserving jobs, but at the same time the need to preserve the company’s financial structure and ensure its future sustainability is paramount," said chairperson David Brown.

Mooiplaats employs 290 employees and 258 contractors.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

num  |  coal of africa  |  mining unrest


Sibanye Gold to lift capex

2015-01-27 10:45


Latest Articles

15 Investment Tips for 2015
Tax-free saving accounts are coming
Which generator is right for you?
5 top tips to help you save on your next grocery bill Read More...

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...